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Raketech State of change
It is perhaps representative of the present state of flux being experienced by the betting and gaming affiliate sector that Raketech currently has an interim chief executive who is also one of its founders and who , after a number of years in the background of the company , felt it necessary to reintroduce himself on the earnings call with analysts .
Still officially acting CEO , Johan Svensson explained that he was one of the company ’ s co-founders , was chief executive prior to the company going public in 2018 , and for the past two years has been fulfilling the role of chief commercial officer .
“ I ’ m excited and looking forward to this new role ,” he told the analysts .
Of course , the big news from Raketech was the sudden departure of previous chief executive Oskar Mühlbach who left the company in January following disagreements with the board over the strategic direction of the business .
On the call there was no word from the management team regarding what the dispute may have been about , but given the levels of landscape-changing M & A activity in the space , it is a
Chart 12 : Raketech revenue Q122-Q423 (€ m )
26 24 22 20 |
21.5 |
22.8 |
18 |
17.6 |
16 14 |
15.7 |
15.8 |
12 10 8 6 4 2 0 |
12.7 |
11.3 |
13.0 |
Q122 |
Q222 |
Q322 |
Q422 |
Q123 |
Q223 |
Q323 |
Q423 |
fair guess that disagreements to € 11.4m one year later and now in that area likely lie behind represents 50 % of total revenues . Mühlbach ’ s departure .
Svensson said this represented
As it is , on the call Svensson “ fantastic growth ”, albeit at lower noted that revenues for the margins than are achieved from fourth quarter were in line the straight affiliation businesses . with expectations at € 22.8m ,
He explained that sub-affiliation representing growth of over 45 %, for Raketech consisted of two while the full-year figure amounted distinct elements : the Raketech to € 77.7m . In EBITDA terms , the Network and Affiliation Cloud . The fourth quarter figure came in at first is a platform for other paid € 6m while for the year as a whole traffic publishers while the cloud it stood at € 23.6m . business is an in-house platform which focuses on providing organic
SUB CLUB
A big driver of performance for Raketech has been its subaffiliation business which saw revenue for the fourth quarter rise on a year-on-year basis from € 3.5m in the fourth quarter of 2022 traffic for clients .
The last element of the Raketech business is the US betting tips and subscription business . Svensson said Raketech still hadn ’ t seen any positive effects from organisational changes that were implemented
April 2024